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Huawei has presented the new Mate 20 and Mate 20 Pro . The highest-level representatives of the company, devices that are accompanied by the latest technology. And next to them, a new storage format has appeared.
By dispensing with a memory card slot, Huawei has decided to take advantage of the dual tray of the SIM card to introduce a new storage format in the market. Do you want to know more about the new NM Card?
Nano Memory Card, the storage miniaturization
Until now, if we wanted to expand the memory of our smartphone, the choice was the use of a good Micro SD card . However, this is long, we know that Google does not like this kind of solutions; and has removed them from their devices.
Little by little, the other manufacturers have been acquiring the same idea: delete the slot to expand the memory of our device. Others used ingenious solutions, using the tray for the Nano SIM card, giving the option to use two Nano SIM cards or a MicroSD together with a Nano SIM
And now Huawei arrives giving a new twist, introducing a new storage format called NM Card or Nano Memory Card . Basically they are memory cards the size of a Nano SIM card.
This makes the reduction in size 45% compared to the size occupied by a MicroSD card. On the storage capacity, until now we know that they can hold up to 256 GB . And regarding the transfer speeds, everything points to that they will have a limit of about 90 MB / s , so they would comply with the A1 standard recommended in Android.
It remains to be seen if this new format will own Huawei or be the new storage standard , leaving behind the popular MicroSD for this new smaller card. A step forward to make slimmer designs of the next devices that will come.


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bonkers.ie has a new exclusive offer! SSE Airitricity is offering 25% off electricity to new customers and 23% off electricity and 16% off gas to new dual fuel customers who switch through bonkers.ie.
After a quiet few weeks, the wheels on the gas and electricity markets are starting to turn again.
Last week, we heard that Electric Ireland will be cutting its prices by 6% from June 1st and now, we’re delighted to announce brand new exclusive electricity and dual fuel discounts, available only through bonkers.ie.
The discounts come from SSE Airtricity and make its dual fuel and electricity only offers among the cheapest on the market right now.
Let’s look at how much you could save by switching to these bonkers.ie SSE Airtricity exclusive deals.
25% off electricity
SSE Airtricity is offering 25% off electricity exclusively to new customers who sign up through bonkers.ie.
The discount takes the unit rate for electricity down to 12.35 cent (excluding VAT) per kWh.
That means the average Irish household that switches to the supplier through bonkers.ie will pay about €970 for a year of electricity, which amounts to a saving of €211 once all additional taxes and charges are factored in.
It's important to note that this discount is only available through bonkers.ie and you must sign up for direct debit and ebilling with the supplier.
Exclusive dual fuel discounts
SSE Airtricity is offering a 23% electricity discount and a 16% gas discount to new customers who sign up to the supplier’s dual fuel exclusive through bonkers.ie.
This takes the unit rate for electricity down to 12.68 cent (excluding VAT) per kWh, which adds up to a cost of about €990 for a year of electricity for the average Irish household, once taxes, PSO Levy and standing charges are added in.
And that’s €191 cheaper than standard electricity prices, which 85% of the country are still on.
The potential saving to be had on gas is significant too.
SSE Airtricity is offering a 16% gas discount as part of its dual fuel offer, taking the unit rate for gas down to 4.24 cent (excluding VAT) per kWh. At this rate, the average Irish household will pay about €824 for a year of gas, including all taxes and charges.
And that’s a whole €120 or so cheaper than standard rates at the moment.
Adding the gas and electricity savings amounts together gives you a year-one saving of around €311 on your energy bills, which makes this bonkers.ie exclusive one of the best dual fuel deals available right now.
To get this price, you have to pay by direct debit, use ebilling and sign up through bonkers.ie before the exclusive offer expires.
Why are prices falling?
One of the reasons for these attractive sign up offers is that wholesale gas prices are down 45% and wholesale electricity prices are down 35% compared to this time last year.
That means that Ireland’s energy suppliers are spending less to purchase their gas and electricity and some of these savings are now being passed on to customers, mostly in the form of sign-up discounts.
The best way to take advantage of these savings is to take action and switch now.
SSE Airtricity’s dual fuel and electricity discounts are some of the biggest discounts we’ve ever seen and they are available for a limited time through bonkers.ie, and through bonkers.ie only.

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Off The Wire
UPDATE 1-China's Sept net gold imports via Hong Kong falls to over 7-yr low
Oct 25 (Reuters) - China's net gold imports via main conduit Hong Kong in September fell to its lowest since May 2011, as the country likely limited import quotas for its banks.
Imports via Hong Kong to China, the world's top consumer of the metal, decreased to 11.059 tonnes in September from 31.857 tonnes in August, according to data from the Hong Kong Census and Statistics Department.
That is the lowest since May 2011, when imports were at 4.37 tonnes.
Total gold imports via Hong Kong dived about 63 percent to 12.707 tonnes in September from 34.22 tonnes in August.
Gold imports could have fallen due to China limiting import quotas for the banks, said Samson Li, a Hong Kong-based senior precious metals analyst at Refinitiv GFMS.
China allows 13 banks, including three foreign lenders, to import gold, according to the Shanghai Gold Exchange.
The banks would have saved up their unused quotas for future months, on expectations that the yuan may continue to fall for longer, since a weaker yuan could translate into bigger gold premiums in China and thereby higher profits, he added.
The yuan is on track for a seventh straight monthly decline.
"Another possibility... is that the People's Bank of China (PBOC) may (have) slowed the import approvals to limit the outflow of the yuan," Li said.
In August, China's net gold imports via Hong Kong fell 29 percent from July as Beijing curbed import quotas for banks amid a trade tussle with the United States. China does not provide trade data on gold, and the Hong Kong figures serve as a proxy for flows to the mainland.
The Hong Kong data, however, might not provide a full picture of Chinese purchases as gold is also imported via Shanghai and Beijing.
(Reporting by Sumita Layek in Bengaluru, Editing by Sherry Jacob-Phillips and Christian Schmollinger)Outside U.S. +91 8067491638; Reuters Messaging: Sumita.Layek.firstname.lastname@example.org))


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Consumer Action Organization
The Netflix phishing scam is back. It was first spotted as early as a year ago, picked up steam last fall, and, as reported by cybersecurity firms MailGuard and Panda Security this month, is now back again to ring in the New Year. Consumer Action’s editors were treated to our very own copy of the phony message—in Spanish—in mid-January.
As before, the phishing message tells recipients that due to problems with their payment, they must click on a link to verify or update payment information. Clicking on the link redirects consumers to a fake, but realistic, Netflix website where consumers are asked for credit card numbers, passwords and other personal information. The stolen information can potentially be used to access a consumer’s financial and other accounts, particularly if they reuse passwords for different accounts, and it can be used to commit identity theft. And that’s on top of the likely damper the scam will place on family movie night.
As far as we can tell, the fake Spanish Netflix messages have not been widely covered, if at all, in the news or other reports about the scam. The Spanish message we received was clever in that it listed a legitimate Netflix email address in the “Reply-To” field. However, careful scrutiny revealed that it was not sent from a Netflix email address. Also, when we contacted Netflix customer service, a representative confirmed that our editor’s email address was not in their system and that they would not have emailed us.
Consumer Action urges consumers, including Spanish-speakers, to be aware of the latest wave of fraudulent Netflix emails and to know how to safeguard their information.
Use the following tips and resources to stay safe:
- Don’t click or respond. If you receive a suspicious email asking for personal information, whether or not it appears to be from a company or someone you know, don’t provide information, click on links, open attachments, or reply to the message.
- Contact companies directly. If the suspicious message seeking information claims to be from a company where you’re a customer, look up the company’s correct phone or web address and contact them directly to find out if there really is a problem or if they need anything from you.
- Be suspicious of threats. Claims of harsh consequences such as account closures, lost money, or other harm for failure to provide requested information are red flags.
- Don’t reuse passwords. Scammers love passwords that they can use to access lots of your accounts. Whether they get your password through a phishing scam or even a data breach, don’t make your passwords even more valuable to crooks by using them for multiple accounts.
- Use security software. Protect your computer from phishing and other online threats by installing and keeping your security software up-to-date.
- Contact financial institutions. If you inadvertently give out personal and financial information to scammers, contact your financial institution to prevent or dispute fraudulent charges.
- Report phishing scams. Forward fake messages to the company being impersonated and to email@example.com. (For Netflix, send scam messages to: firstname.lastname@example.org.)


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Beatlemania is back with the rollout Wednesday of the Fab Four's remastered CDs and first-ever video game, reaching out to a whole new generation decades after their parents – and even grandparents – first succumbed.
It's been nearly 40 years since John, Paul, George and Ringo announced their breakup, but the new game and discs caused a worldwide buzz as the Beatles returned to the top of the charts in Britain, the land where it all began.
Fans flocked to get their hands on the long-awaited sonic masterpieces, with lines snaking outside record stores in London and Liverpool. Some die-hards jammed the streets outside Abbey Road, the landmark studio where the Beatles recorded many of their groundbreaking albums.
About 50 people gathered outside the HMV music store on London's Oxford Street early Wednesday – some, like university student Daniela Gutierrez, waiting in line since 3 a.m.
"My parents were huge Beatles fans and I grew up listening to their music," said Gutierrez, 25. "I can't wait to have the game and start playing the songs."
It's not exactly 1964 – there were no fainting teens or other visible signs of feverish Beatlemania – but the long-awaited release brought the long-gone band to the top of the charts maintained by online retailer Amazon.co.uk.
Or, as John Lennon liked to say, "to the toppermost of the poppermost."
Uma Nolan, an Irish nurse visiting London, came to the Abbey Road studio to be photographed at the pedestrian crossing made famous on the "Abbey Road" album cover. She plans to buy the entire set of 17 CDs – even though she already has all the songs in the collection.
"I will absolutely go out and buy them," she said. "I'm a huge Beatles fan and have every single LP in original first edition copies. They were the first real pop group. The entire generation was waiting for that to happen. They sent worldwide pop culture off into orbit."
Nolan, 50, said remastering the Beatles albums will introduce them to a new generation.
"It brings them up do date and modernizes their music," she said. "You're enhancing what was really to begin with, so that can't be a bad thing."
High prices are apparently no deterrent – Amazon.com sold out its allotment of pre-orders for the Beatles box set, priced at $260 (170 pounds) and has a waiting list of buyers.
The robust sales are expected to add to the already considerable wealth of Paul McCartney and Ringo Starr, the "thank my lucky stars" drummer who joined the band just before it had its first hit, as well as Yoko Ono and Olivia Harrison, the widows of the late John Lennon and George Harrison. Court records publicized last year put McCartney's net worth at about $800 million.
It's also expected to boost the value of the estate of the late Michael Jackson, who owned a substantial share in the publishing rights to the Beatles' fabled back catalog.
"The Beatles: Rock Band" video game also is expected to sell well, opening a new revenue stream for the band.
Adam Liversage, spokesman for the British Phonographic Industry, said video games offer well-known bands a way to reach a wider audience and increase their earnings in the process.
"It's great for music – it is a new revenue scheme and a way for people to explore music that they otherwise might not have had access to," he said.
"These games have been around for a while, the Beatles' one isn't the first one, it is the latest in a series," he said of the new release, which follows the success of "Guitar Hero" and other music-oriented video offerings.


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PS3 NBA Live swatted to next season
Once a showcase for EA Sports on PS3, NBA Live 07 is now canceled; PS3 basketball sim expected to start dribbling next season.
One of the highlights of Sony's E3 2006 presentation was a demonstration from EA Sports that showed the differences between the PlayStation 2 and PlayStation 3 versions of NBA Live 07. As many had presumed from the E3 presentation, EA was gearing up to tip off the PS3 launch with the game, and at one point officially confirmed that fact.
Unfortunately for EA hoops fans, the PS3 has been cut from NBA Live 07's team of platforms. EA Sports confirmed to GameSpot today that the PS3 edition of NBA Live 07 has been canceled.
"Our PS3 designs for NBA Live are very ambitious and we did not want to rush the game this year," an EA Sports rep told GameSpot. "We expect that NBA Live will be available on PS3 next season."
All is not lost for future PS3 owners and fans of EA's basketball games, though. The rep also cited development of NBA Street Homecourt, due early next year on the PS3 and Xbox 360.
There will still be two PS3 launch-day options for basketball fans. Day-one titles include Sony's NBA 07 and 2K Sports' NBA 2K7.
GameSpot may get a commission from retail offers.


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Adult girls on wechat
Contrary to most brands that recommended products as gift ideas, the German luxury fashion house Hugo Boss chose to highlight the dads themselves for their Father’s Day campaign on We Chat.
Features: Their post illustrated different “dad” profiles at different ages, and by linking to a We Chat Mini Program, users can upload pictures of their dads along with words that described their style (like handsome, cool, cute, silly, etc.) They can also view and like other people’s dad photos.
Results: Star power took effect, and his fans responded overwhelmingly positively: “I’d like to play for my idol Xu,” or “This such a delicate Mini Game.” Many fans hope to travel with Xu, if they are selected for the trip.
Moreover, within one day, the post garnered over 11,000 pageviews and received 141 likes. Learn more about this campaign Facts: With Father’s Day coming this Sunday, June 16 2019, many brands posted their very own gift guides on We Chat at the beginning of the week.
In addition, viewers are invited to discover the brand’s flagship stores in Paris, Tokyo, New York, and Milan.
Lastly, the program enables consumers to make digital appointments to visit offline stores.
Learn more about this campaign Campaign description: Fendi blends star power and fashion in the latest We Chat Mini Game Facts: Fendi’s new We Chat Mini Game, Fendi Ways to Rome, which was launched yesterday.
” Girls would usually end up being forced to participate in sexual activities or raped, according to Lee.
She immediately found a client online and a few hours later got enough money to buy what she wanted,”Since last year, when Hong Kong police started collecting compensated dating statistics, 12 cases have been reported.
According to police records, seven of those cases involved students with the youngest of them being just 12 years old.
The male version is Xu Weizhou, the Chinese actor and singer-songwriter and brand ambassador for the Fendi Peekaboo bag in China (his own music scores the background of the game).
Players can follow Xu Weizhou through the different levels of the game: Discover, Tracing, and Pursuit of Dreams in the journey through Rome, and then unlock the “hidden” level to complete the experience.


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NODWIN Gaming announces the postponement of BACARDÍ NH7 Weekender’s current festival which was slated to be held in February this year. The gaming company informs that the festival stands postponed until further notice.
OneTo11 – one of the world’s first blockchain gaming ecosystem was recently won the award of the 'Top Crypto Project' at DeFiLive London. The event showcased the hottest DeFi Projects and the biggest tech breakthroughs in the blockchain and cryptocurrency domain. Hosted in London, the event featured leading players and pioneers of the blockchain and DeFi industry.
BACARDÍ NH7 Weekender, that was held digitally last year due to the lockdown restrictions, is now back with live editions planned for February 2022 in three cities – Pune, Kolkata and Delhi NCR. NODWIN Gaming, who recently acquired the festival from OML Entertainment, will be organizing the festival. Registrations for the virtual edition as well as bookings for the live festivals, will open from December 4, 2021.
While western countries are big on consoles, mobile gaming is what largely defines the Indian gaming scenario. According to the report, Mobile gaming is expected to triple to a $5Bn+ market opportunity by 2025 - 300Mn+ user base, growing with ease of access; spike in new adoption; leading companies actively shaping market evolution with increased marketing spends.


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The automobile industry in the United States is on the edge due to the fast spread of the novel coronavirus (2019-nCoV) across the western hemisphere, which has caused multiple auto plant closures in hard-hit European countries.
“All options related to protecting against exposure to the virus are on the table,” according to a task force formed by the United Auto Workers (UAW) union, General Motors Co, Ford Motor Co and Fiat Chrysler Automobiles (FCA) on Sunday March 15, hinting at the possibility of auto plant closures.
The Covid-19/Coronavirus Task Force - led by UAW president Rory Gamble, GM chairman and chief executive officer Mary Barra, Ford executive chairman Bill Ford, Ford president and CEO Jim Hackett and FCA CEO Michael Manley - was formed to “implement enhanced protections for manufacturing and warehouse employees at all three companies” following news last week that a worker at FCA's plant in Kokomo, Indiana, had tested positive.
FCA said on Monday that its FCA Italy and Maserati subsidiaries were temporarily suspending production across the majority of their European manufacturing plants, effective through March 27.
Plants to be shuttered included FCA’s production plants in Melfi, G. Vico (Pomigliano), Cassino, Mirafiori Carrozzerie, Grugliasco and Modena, in Italy; Kragujevac, in Serbia; and Tychy, in Poland.
Asked whether FCA’s plants in the US are at risk of closure as well, a company spokesperson indicated this was a possibility.
"Clearly, this is a fast evolving situation and we are managing all our manufacturing plants in function of employee welfare, parts supply, market demand and governmental guidelines on economic activity," a spokesperson for FCA US said in an email to Fastmarkets.
General Motors was continuing to monitor new developments. "Please know we are continuing to monitor the situation very closely. As of right now, [there has been] no impact on our North American manufacturing operations," a company spokesperson said.
French automaker Groupe PSA also announced on March 16 that it was halting car production in Europe, including the Vauxhall factories at Ellesmere Port and Luton, in response to the rapid acceleration of the coronavirus.
“Car makers have an even bigger concern on the supply side,” Christian Stadler, professor of Strategic Leadership at Warwick Business School and an expert on the automotive industry, said in response to PSA’s decision to shutter car production.
“Every car contains somewhere in the region of 30,000 different parts, many of which come from China,” he added.
Figures from the China Association of Automobile Manufacturers show vehicle production slumped by 45.8% year on year in the first two months of this year, according to Fastmarkets analyst James Moore.
Automakers in Wuhan, China, where the coronavirus originated, restarted operations in early March, Fastmarkets analyst Andy Farida noted in a report, “but factories continue to face hurdles in the short term amid the lack of raw materials due to supply chain disruptions, stringent checks and lack of workers, which suggests that it will take time for plants in the region to reach their full utilization rates.”
The airline industry, another major consumer of metals, has been particularly hard hit, with the industry requesting a government bailout of $50 billion to tide over the “unprecedented economic downfall” due to the pandemic.
Airlines for America, which represents US carriers such as Delta, United, American and Southwest, recommended passenger carriers immediately receive up to $25 billion in grants to compensate for reduced liquidity and in the medium term $25 billion in low- or zero-interest loans.
The US Federal Reserve has interest rates to near zero, promising to boost its bond holdings in an effort to support economic activity.
Fastmarkets’ daily steel hot-rolled coil index, fob mill US was at $28.25 per hundredweight ($565 per short ton) on March 13, down by 2.9% from $29.09 per cwt a day earlier and off by 6.5% from $30.21 per cwt on March 6.


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Google has announced a Sh100 million grant to train over 100,000 Kenyan smallholder farmers in digital skills. Google also launched Street View and Motorbike Mode on Google Maps for the first time ever in Africa.
Google is partnering with One Acre Fund, a non-profit organization to provide training as well as products and services to smallholder farmers aimed at digitalising their agribusiness operations and tasks.
Country Manager for Google Kenya, Charles Murito said “In Kenya, the agriculture sector employs over 40% of the total population, contributing to 30% of the Gross Domestic Product (GDP). We want to see the power of technology elevate small-scale farming. We hope that through this initiative, we will see a positive impact in food security, job creation and GDP growth in Kenya.”
For smallholder farmers, technology is often the game changer that enables efficiency and increased productivity from the agricultural output.
Google Maps’ Motorbike Mode
Because boda-bodas are a convenient and affordable way to move and transport goods from one place to another for most Kenyans, Google has announced a dedicated travel mode for motorcycles, which will provide directions and voice navigation.
With Google Maps’ new Motorbike Mode, users across Kenya will now be able to get directions and turn-by-turn navigation, to suggest routes that are more efficient and provide an optimal travel experience.
Google also Unveiled Street View with over 9,500 km of beautiful imagery of Nairobi, Mombasa, Eldoret, Nakuru, Nyeri, and Malindi available on Google Maps and accessible to everyone around the world. With Street View, Kenyans and tourists alike will now get a more immersive experience as they navigate and explore cities and destinations around the country.
Street View is a great example of Google products which enhance the way that individuals and communities search for and interact with information that is most important to them.
“We aim to build products that improve the lives of as many people as possible. By staying focused on the needs, behaviours and concerns of the people for whom we’re developing our products, we can more effectively build for everyone, “Jeff Albertson, Program Manager, Google Maps, Next Billion Users said.


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The 28th Annual Birmingham House Tour will take place on Thursday, Sept. 24, to showcase what has been described by the organizers as seven ‘spectacular’ homes.
The event is being presented by the Hall and Hunter Realtors and the tour cost will be $40 per person in advance or $45 at the event. Proceeds from the tour will be used to fund The Community House outreach programs.
‘The styles featured range from a sophisticated 1920s Tudor accented by exquisite designer details and fine furniture to a rare behind the scenes look at a cozy artist’s retreat located in a tranquil garden setting,’ according to a statement by The Community House.
For more information or to purchase tickets online visit www.tchserves.org.
– Staff writer Aftab Borka


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A new Raise sitewide sale kicked off today for 5% off every gift card on their site. This is in addition to their already reduced prices.
The post Raise Sitewide Sale – 5% Off Already Reduced Gift Cards appeared first on Miles to Memories.
Continue reading ...
By Mark Ostermann


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Since its emergence and explosion in the 2010s, the cryptocurrency space has been male-dominated. In fact, 2021 research found that 74% of United States crypto holders were men. In South Africa, the situation is a little better, with 65% being men, writes Justin Asher, head of strategy and marketing at Upnup.
Things are hardly better on the provider side. Despite year-on-year growth, a report released earlier this year shows that there are around four times as many men working in the crypto sector as there are women. Additionally, of the 121 top crypto companies around the world, just five are women-led.
It is, however, a situation that is rightly changing. More and more women are entering the cryptocurrency space, investing in coins, educating others about it, and using it to drive societal change. While there’s clearly some way to go, there’s enough progress being made to suggest that women will play a much bigger role in the future of cryptocurrencies.
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Stalling the rise of the crypto-bros
Before digging into some of the factors that are helping women close crypto’s gender gap, it’s worth looking at what made it so male-dominated in the first place. While there’s no single reason for this imbalance, the collective causes mirror many of the other inequalities in both the tech space and the wider world.
With South African women earning up to 35% less than men, they may be less willing to put their money into an investment vehicle that’s perceived as risky.
It’s also worth noting that some women may have been turned off by the brash male voices who have been among the loudest proponents of cryptocurrencies. The term “crypto-bro” certainly isn’t one of endearment. It’s reflective of a kind of toxic misogyny that made its way from the technology space, which has battled with it for years.
Fortunately, efforts are being made across a variety of fronts to ensure that the crypto space is a lot more accessible and inclusive.
Changing the crypto narrative
The work done on accessibility is particularly noteworthy. Not all that long ago, the process of buying even a popular cryptocurrency like Bitcoin was complex and took multiple steps. Technology and improved user experiences have, however, advanced to the point where this is no longer the case.
A good example of this is the South African app upnup, which lets people easily make micro-investments in Bitcoin. It does so in a couple of ways. The first is by allowing people to round up their spending with a mechanism that works similarly to the “bank your change” facility offered by most banks.
At the end of the month, all of that change can be used to buy Bitcoin. It also, however, has a “set and forget” option, which allows people to put aside a set amount of money every month and have that put into Bitcoin.
Far from the popular image of cryptocurrencies being something you have to obsess over to invest in, it’s an approach that turns Bitcoin into the kind of passive investment most of us are familiar with from elsewhere in their lives.
That reduced complexity doesn’t just make it easier for women to invest in crypto, it also makes it more accessible for South Africans in general. At present, just 10% of South African adults own cryptocurrency, showing how much room for growth there still is.
It also removes the element of risk. After all, if you’re just using your “change” from purchases or putting away the same amount of money you’d spend on takeaway coffee, how much risk are you really taking? That improved accessibility and reduced risk may also make more women feel comfortable exploring and entering the space as builders and entrepreneurs.
Women equally deserve to be where the money is
As co-founder at Bitcoin Events, Blockchain Academy, Xago, Sonya Kuhnel is quoted as saying “Crypto is here for the individual… is for everyone.” Ultimately, it’s important to remember that closing the cryptocurrency gap isn’t just something that “ought” to happen because it’s the right thing to do. If, as its fiercest advocates believe, cryptocurrency is the future of money then women must be included in its growing role in society.
The efforts to ensure that they’re represented as both investors and entrepreneurs and builders should therefore be applauded. Over time, they’ll play a critical role in ensuring that crypto has a much more female-oriented future.
ALSO READ: Got an idea for a side hustle? Fund it with crypto


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Wondering what to watch this Labor Day weekend? You might want to fire up your Amazon account and check out the five new pilots the online behemoth is rolling out. Unlike their competitors at other streaming services, the company is taking a unique approach to programming. Today they’re launching the new shows, but the catch is that user comments and ratings will determine which ones get ordered to series…and which don’t. Among the competing shows is “Red Oaks,” from director David Gordon Green.
Starring Craig Roberts (“Submarine“), Paul Reiser and Richard Kind, the show is an ’80s set comedy that follows a college age kid working at a country club during the summer. The first clip and a behind-the-scenes look promises what looks like an enjoyably sharp show, and fyi, Steven Soderbergh executive produced the pilot.
“Red Oaks” is now playing on Amazon.
Sign Up: Stay on top of the latest breaking film and TV news! Sign up for our Email Newsletters here.


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Emap is ploughing ahead with its internet strategy, despite a group-wide decision to rein in its online activities in March.
Emap Digital this week launched Mixmag.net, the online counterpart to its top-selling clubbing magazine.
The launch is the penultimate tick on Emap's Music Project strategy sheet, and the culmination of more than a year's worth of hard work for Jerry Perkins, the managing director of the Emap Digital Music Project and former managing director of Emap's music magazines.
Since December, Emap Digital Music has launched site after site and now has five music websites under its wing, including Q4music.com, Mojo4music.com, Kissonline.co.uk, Smashhits.net and now Mixmag.net.
It has also taken Emap Online's ticketing site, Aloud.com, and thebox.co.uk under its umbrella, and plans to launch the final site, Kerrang.com, in August.
"The launch of Mixmag.net represents an exciting development for clubland and for Emap Digital," said Mr Perkins.
"Mixmag.net offers clubbers another arena to plug in to the thrill and energy of clubland, while giving advertisers and partners the opportunity to interact with Mixmag readers through an alternative medium."
The rest of Emap Digital's internet strategy is still sketchy. It has yet to fully reveal the results of its "consultation period", which involved a number of site closures and staff redundancies.
According to a spokeswoman for the company, the strategy will be clarified in the coming weeks by the chief executive of Emap Digital, Paul Keenan.


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Bridgestone's Higgs Talks Autonomous Trucks, Severe Service Retreads, GCR and More
While maintaining 44% share of the United States retreaded truck tire market, Bridgestone-Bandag has had a busy couple of years. In addition to introducing new tread products for severe service applications, last year Bridgestone staged a 29-city roadshow, titled “Fleets We Depend On,” to educate fleets about the advantages of using retreads.
In this interview, Eric Higgs, president, truck, bus and retread tires, U.S. and Canada, Bridgestone Americas Tire Operations, discusses the company’s efforts to promote retreading, how autonomous trucks could impact retreading and more.
MTD: What’s your take on the current state of the retread market as we prepare to enter the second quarter of the year?
Higgs: At Bridgestone, we are optimistic about the retread market. There is a lot of opportunity in the retread category for 2020 and beyond, as the practice of retreading creates value for fleets of all sizes. Fleets today are becoming more sophisticated and are willing to invest in business practices that maximize their investment. We anticipate that the retread market will remain healthy as fleet owners evolve their business models to include sustainable solutions that enhance profitability.MTD: What trends did you observe during the first quarter of 2020 and how did they impact Bridgestone’s retread business?
Higgs: The environment is highly competitive and original equipment manufacturers, suppliers and tire manufacturers are all developing and delivering new solutions to create more value for customers. One key trend shaping the future of mobility, as well as impacting retreading, are autonomous vehicles. Bridgestone is committed to making mobility more efficient for fleets and we believe retreading will be incredibly valuable for fleets of the future, which will utilize autonomous trucks. Without variations in driver behavior, tires on autonomous vehicles likely will wear more evenly, better protecting casings for retreading. These casings could conceivably last the entire life of an autonomous truck when coupled with retreading.
MTD: Bridgestone has introduced quite a few new, non-long haul Bandag retread products in recent years, including one for severe service applications and another for waste haul fleets. Do these products represent a new or renewed emphasis on niche applications?
Higgs: At Bridgestone, our new product strategy is rooted in anticipating and meeting our customers’ needs. Waste fleets and severe service fleets are challenged to perform in some of the toughest applications in the trucking industry. With frequent stops along residential and commercial routes each day, tires equipping waste fleet trucks often experience heat fatigue and faster wear. Punctures also can occur as these vehicles regularly drive through landfills. All of these factors can result in the removal of tires from a waste vehicle every three to six months, which can be costly. Retreading helps waste fleets maximize their tire investment. When it comes to severe service fleets, retreads can play a huge role in their overall tire management program.
MTD: As the U.S. truck tire retread market share leader, are you satisfied with the Bandag network’s geographic coverage?
Higgs: Bandag retreads are available through a large, far-reaching network of authorized dealers and retailers in the U.S. and Canada. We are constantly evaluating our distribution footprint to ensure we are fully leveraging our network to ensure fleet customers have access to the products they need when they need them.
MTD: Has the divestiture of certain GCR Tires & Service locations changed your retread strategy in any way? (Editor’s note: Bridgestone still owns and operates more than 70 GCR locations.)
Higgs: Our strategy remains the same. We believe the practice of retreading creates immense value for fleets of all sizes and we are committed to ensuring customers have access to high quality Bandag retreads. Our comprehensive retread distribution strategy encompasses our company owned GCR locations, as well as our many authorized Bridgestone and Bandag dealer partners across the U.S. and Canada.
MTD: Last year’s Bandag Fleets We Depend On roadshow was a first for Bridgestone. Did it move the needle in terms of increasing awareness about the benefits of retreading?
Higgs: During the roadshow, fleets were offered the opportunity to learn about retreading and the Bandag process, specifically, through an interactive exhibit, including a plant tour at many roadshow locations. The Fleets We Depend On campaign will continue this year through new content that will further advance the education and understanding of the value of retreading for fleets of all sizes – but especially small to medium-sized fleets. Bridgestone will also offer a Bandag “roadshow to-go” concept with assets and visuals that dealers can use to conduct their own Bandag roadshow at a location of their choice.
MTD: What impact – if any – are tariffs and ongoing trade tensions with China having on Bridgestone’s retread business in the U.S.?
Higgs: We continue to closely monitor the regulatory environment. The situation is very fluid, making it difficult to predict the future.
“Our focus is on educating fleets of all sizes about the many advantages retreads offer, helping them understand that retreads are a smart business choice in any market condition,” he says.


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Banks, hardware stores, liquor stores, and grocery: These businesses are seeing foot-traffic bursts amid the coronavirus pandemic
Mary HanburyMar 27, 2020, 00:55 IST
The coronavirus pandemic is having a monumental impact on businesses around the US.
While some businesses have been forced to shutter and seen foot traffic dry up completely, others are grappling with a surge in demand.
Foursquare has gathered foot traffic data in major cities across the US to see how different consumer services are faring during this difficult time. Grocery stores, warehouse stores, and hardware stores have seen big increases in foot traffic.
Much of the US is in lockdown mode as consumers have been advised to stay at home amid the coronavirus pandemic.
While the restrictions vary by state, in some places all "nonessential" businesses have been asked to close, which includes anything from gyms and salons to clothing stores and movie theaters.
But other businesses deemed "essential" during the crisis are seeing a surge in demand.
Foursquare has gathered data to show how foot traffic trends changed in major cities across the US from February 19 to March 20. Here are the types of businesses that have seen increases in foot traffic:


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Its parent company may have ruled-out hydrogen, but a new trademark application by Porsche shows the company is still exploring its potential.
Despite pursuing synthetic fuels and electric vehicles as an alternative to petrol and diesel, German sports-car company Porsche appears to be keeping the door open for a hydrogen fuel-cell future.
As discovered by CarBuzz, Porsche has filed a patent application in Germany for hydrogen fuel-cell technology, suggesting its engineers are continuing to research and develop the alternative propulsion method.
While Porsche produced a hydrogen-fuelled internal-combustion engine in 2023 – a 4.4-litre V8 fitted to a “luxury-segment reference vehicle” weighing 2650kg – this is believed to be the first time the brand has shown an interest in hydrogen fuel-cell technology.
Unlike internal-combustion engines which are fed hydrogen in place of petrol or diesel, hydrogen fuel-cell vehicles are essentially electric cars that convert hydrogen to electricity, reducing the need for batteries and charging.
Curiously, in early 2023, Porsche’s parent company Volkswagen ruled out using hydrogen for its passenger cars – instead committing to electric vehicles.
Porsche has been investing millions of dollars in the development of synthetic fuels – which use carbon collected from the atmosphere to create synthetic petrol which has a net-zero emissions output – including the announcement of a production site in Tasmania.
At this stage it’s not clear how seriously Porsche is taking hydrogen, however the patent application suggests it’s not completely off the table.


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With the first wave of winter season, the holiday season has started and with this come first the National Day holidays. The UAE government has announced the National Day holidays from Wednesday 1, December 2021 till Saturday, 4 December 2021. Sunday 5 December will be the first working day of the last month of this year. The holidays have been supplemented with Dubai Sales Festival all across the UAE and the shoppers are out enjoying the best possible discounts across all retail vendors in the UAE. The malls are buzzing with shoppers.
“According to a recent Oracle retail consumer research study, 66 per cent of UAE shoppers have already begun holiday shopping or plan to purchase earlier than usual due to the worry of supply chain issues and delivery delays.
26 per cent of respondents are ready to pay extra to assure speedier or guaranteed delivery, and 30 per cent intend to purchase more gifts in the event that any are delayed or canceled.” Source LinkedIn
If you are planning a great holiday in the UAE, you must enjoy great deals across brands.


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Mexico auto production is on the rise, according to Reuters.
Car production has risen by 2.7 percent in Mexico to a total of 249,440 vehicles. Exports have dropped slightly to reach 177,928 units.
Cars are a major part of the Mexican manufacturing industry, and if cars are doing well, it is often a sign that the industry as a whole is strong.
Shipments to the U.S. represented over 70 percent of all exports.
Nearshoring causes manufacturing boom
The growth of Mexico's auto industry is due in part to manufacturing companies expanding to Mexico. In an interview with Manufacturing.net, Joe Atikian, a noted manufacturing expert, said Mexico has a long history of integrating global businesses into its economy. He also spoke of Mexico's great capacity for growth, as well as its capable and motivated workforce. Atikian also explained the benefits of Mexico's proximity to America, which improves its ability to speed development and make the supply chain short and efficient.
In fact, according to The International Business Times, Mexico may even surpass Brazil as the next major emerging market.
During the U.S. financial crisis of a few years ago, Mexico also fell into a deep recession, but slowly and steadily, that has begun to change and Mexico is starting to grow and expand. Its GDP growth is estimated to be 4 percent in 2014, according to The International Business Times article. Additionally, some analysis firms have placed Mexico above Brazil in their credit ratings.
Mexico has been focusing on renewing its industry and making it suitable for exports, The International Business Times reported. The president has been making efforts, according to the article, to add reforms. They have also begun cultivating new trade partners.
And the North American Free Trade Agreement (NAFTA) hasn't hurt either. NAFTA has effectively eliminated tariffs from trading goods between Mexico, the U.S. and Canada. This is making it a great place for offshoring. Goods can be manufactured in Mexico at a low cost and shipped to America.


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We haven't been able to independently confirm this one, but a T-Mobile tipster tells us that T-Mobile had the largest number of new activations on Saturday for their promotion. Every phone was free with new activation and 2 year agreement.
Jonathan Geller is the founder of Boy Genius Report, now known as BGR, and one of the biggest tech & mobile destinations in the world.
BGR was acquired by leading digital media company PMC in April 2010 and Jonathan is President and Editor-in-chief of BGR Media, LLC. Jonathan was named to Forbes' coveted 30 under 30 list in 2016, and frequently appears as a commentator on news channels such as CNBC, Fox News, ABC News and Bloomberg.
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- Doctor Strange 2’s biggest surprise cameo might have leaked


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The Louisiana-based Main Squeeze Juice Co. juice and smoothie bar franchise announced July 29 that it will open in early August in Jacksonville Beach, which is its first store in Florida.
Restaurantnews.com announced the opening.
Main Squeeze will open at 544 Marsh Landing Parkway near the Target-anchored South Beach Parkway at Butler Boulevard and Florida A1A. Cody O’Hara, director of PR and communications with Franchise Elevator PR, said Aug. 1 that Main Squeeze’s grand opening is Aug. 6-8.
“With 22 locations across Louisiana, Mississippi, and Texas, this location will be the brand’s first in Florida,” the release said.
Spencer Turner, 25, is the Jacksonville owner and operator. O’Hara said Turner can open 10 stores in the Jacksonville area.
The store will offer promotions that include $5 smoothies and juices and free T-shirts for the first 100 customers of each day. Spencer will offer $5 acai bowls the following weekend, the release said.
“As someone who prioritizes their health, it was essential that I brought a business to my community that provided nourishment and helped others live healthy lifestyles,” Spencer said in the release.
“With the opening of the new store in Jacksonville Beach, I hope to create a central location for people to come together and enjoy one another’s company,” he said.
Sleiman Enterprises owns South Beach Parkway. A brochure shows Main Squeeze will occupy an almost 1,500-square-foot space in a multitenant building on an outparcel of the center. The release said the store will have an outdoor patio.
Spencer previously worked for a pharmaceutical company.
Main Squeeze designed a gluten-free and vegan menu with cold-pressed juices and superfoods smoothies, along with one-, three- and five-day juice cleanse programs, shots, and acai bowls.
Founded in 2016 and franchising since August of 2017, Main Squeeze Juice Co. is based in New Orleans.
Main Squeeze expects to open more than 60 additional franchisee- and corporate-owned stores throughout the Southeast and Midwest over the next several years.


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Leading global bourses are wooing Indian companies to list on their platforms.
Top officials of stock exchanges NYSE, Euronext, SIX Swiss Exchange were in Mumbai on Thursday to encourage companies to list with them.
They were speaking at a session organised by Ernst & Young.
The slowdown in the financial markets has taken a toll on the trading volumes of exchanges globally, forcing those to seek newer markets for business.
Marco Estermann, head, issuer relations of SIX Swiss Exchange, said: "Investors feel good about companies going for global listing." While other exchanges have been offering listing opportunities to Indian companies for sometime now, the Swiss exchange is a new entrant.
According to Martin Steinbach, EMEIA (Europe, Middle East, India & Africa) head, IPO & listing services at Ernst & Young, companies that want to take their business international are opting for global listing.
"Telling a story (of a company and its plans) is important," said Lawrence
Corporate governance structure may become the key criteria for investors when they choose to invest in Indian companies in the back drop of several scams involving many corporate houses in the country.
According to London Stock Exchange's Richard Webster-Smith, investors will get attracted to any good quality story from India. Corporate houses like Vedanta are listed on the LSE, which also runs a successful Alternative Investment Market for small and medium enterprises, where several Indian firms are listed.
Lawrence Wong, head, listings at Singapore Stock Exchange said that companies should be factual about their disclosures and explain to investors as to how it will affect them.
Recently, the Anil Ambani group's Flag Telecom, which was planning to list on SGX, had to postpone its IPO as investors did not show much enthusiasm. The Ambani group companies have been facing a lot of corporate governance issues in India.


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Russia's economy is stumbling and could be headed for stagnation, economists said.
That's because policymakers have timed interest rate hikes "very poorly," a new report says.
Russian inflation could hit 5.6% this month, the nation's own economists forecasted.
Russia's economy is ailing as policymakers' attempts to cool down inflation and prop up the ruble are being timed "extremely poorly," the Russian Center for Macroeconomic Analysis and Short-Term Forecasting said in a report.
The center's economists pointed to Russia's recent interest rate hikes, with rates now hovering around 13% to help lower high prices and boost Russia's sagging currency. Higher rates can help achieve those goals by tightening financial conditions, but that spells bad news for the rest of Russia's economy, which is already struggling.
"High frequency data on economic dynamics show that in recent months, economic activity has begun to stagnate, with a tendency toward a slight decline (and stagnation or decline is observed in both household consumption and investment.)," economists said in a September review of Russia's economy.
Russia's economic situation ran into trouble not long after it began its "special military operation" in Ukraine early last year. Though the nation has reported slight growth in 2023, real wage growth has slowed to near-zero, the review said, while consumer spending dipped below zero this July.
"It is worth noting that the moment for the 'cooling down' actions of the monetary authorities (raising the key rate, the likely sequestration of the budget expenditures and new possible rate increases) was chosen extremely poorly," the report said, later adding that Russia's economy was likely headed for a period of "protracted stagnation."
Meanwhile, inflation will likely ease slightly over the coming months. Prices could fall to just 5.6% in September, the center's economists forecasted, still around 1.5 times Russia's 4% targeted inflation rate.
But while economists have been ringing the alarm on the Russian economy, Putin has put up a show a defiance, stating last week that Russia didn't have any problems that were "absolutely insurmountable." Western scholars and researchers, meanwhile, say that under-the-radar statistics of Russia's economy show a far weaker picture of Moscow's finances than Putin has let on.
Read the original article on Business Insider


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Check out this video showing a Chinese company displayed its imitation MacBook Air and two tablet computers in Schenzen. The company claims to sell 5,000 MacBook Air knockoffs per month at a cost of only US$280 with an Atom processor and Windows XP. (The real MBA sells for a scorching US$1,500-1,800.) I'll pass on its $440 iPad knockoff running Android and pay the extra $50 for the real thing.
Tip: Glen DaSilva


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No, your eyes aren’t deceiving you—the Ferrari F8 Tributo you see in these pictures is the exact same model revealed at the 2019 Geneva auto show just a few months ago. But when Ferrari throws a party in Los Angeles, how can you say no to that? After all, some of the company’s most significant customers call Southern California home. It only makes sense to bring the F8 Tributo straight to them.
As for that name: Think of it as a tip of the cappello to the long legacy of midengine, V8-powered Ferraris, dating all the way back to the 1975 308. What a difference almost four and a half decades can make: Featuring a 3.9-liter twin-turbocharged V8 making 710 hp, a claimed 0-62 sprint in 2.9 seconds and a top speed of 211 mph, the F8 Tributo serves up seriously impressive numbers. But according to Matteo Torre, president and CEO of Ferrari North America, the goal behind the F8 Tributo was more than just generating enviable performance figures.
“Everything we bring into the car is about enhancing the performance,” Torre said. “But we worked very hard on the aerodynamics and the ecodynamics so that an everyday person could drive it closer to the limit.” It’s hard to imagine a scenario where an everyday person could explore those limits, but then again, Torre’s definition of an everyday person is referring to an everyday Ferrari driver.


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The media buzz that surrounds Big Data, artificial intelligence (AI) and machine learning (ML) has never been higher, so much so that it can overshadow the real applications and actual outcomes companies are working on. But larger than life promises or hype might have an eclipsing affect around the actual, realistic benefits it provides to almost any organization, in a wide variety of industries, that are generating a large volume of data.
The use case benefits are real and it’s time for your company to start harnessing them. But before your organization can receive the value from AL and ML, it must get a thorough understanding of the role it can play at your business, the problems it can solve, and how it can align to your company’s objectives or intended outcome. The problem is that this is where a lot of AI and ML proof of concept (POC) initiatives have stalled and not made a lot of headways. To overcome this, companies need a place to start from. Smaller companies can take a cue card from tech giants such as Google which has started to make bets in solving large scale healthcare issues.


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Nova età (“New age” in English) is a special fashion evening brought about thanks to the cooperation of the Province and Quartiere 1 with several Italian fashion schools.
The event will see forty old women (aged between 75 and 94) accompanied by forty young girls wearing the clothes of the 50’s alongside those of today. About 160 students, have taken part in the organization of this evening! They have created the new dresses and rediscovered the vintage ones stuffed inside old armchairs or in vintage clothing shops but they have also put together all the music, lighting, videos and pictures that will be shown during the event.
From January the 17th till January the 20th, Milan was once again the center of one of the most important fashion events in the world: Milan fashion week, which this year was concentrated into just four days in order to allow journalists and designers to fly to Paris and take part in Paris fashion week, which started already on January the 21st.
This edition of the Milano Fashion Week saw the participation of about thirty-eight important labels, which presented the image of a classic, elegant man, a business man who takes care of himself and of his look.
Lately we’ve come across a few articles in the fashion press enthusing about a new trend. “Pockets are the new Handbag,” they proclaim. “The fashion for pockets is fast replacing handbags. The It bag is out!” As handbag lovers we clutch our favorite bag closer to our side and swear that never will we be parted from it, no matter what the latest trend.
But is this really a major trend or just a short-lived high street fad?
Along with Pitti Uomo, another important fashion event, now in its third year, has animated the entire fashion world: Pitti W Woman, the female answer to Pitti Uomo , presented a preview of the new women’s 2009/2010 autumn-winter fashion collections which will be then presented in more detail at the Milano and Paris shows in a few months’ time. Pitti W Woman has developed between Via Valfonda and Villa Vittoria, still in Florence, even though the most acclaimed guest of this prestigious event, Mr. Giambattista Valli had the honor of presenting his collection at the Palazzo Vecchio, an important historic palace full of Renaissance masterpieces, and the seat of political power in sixteenth century.


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The Director of the Ghana Cyber City project has said that such cities will take on great importance within the Africa tech scene, given that the continent is “undergoing an unprecedented renaissance.”
Erik Osiakwan, addressing the AITEC East Africa ICT Summit in Nairobi, Kenya last week, said that innovation on the continent was increasing every day and that projects such as his own and the likes of Konza and Tatu in Kenya ideally placed to harness that innovation.
“Innovation centres are creating an environment for the creation of technology,” he said. “Over the next fifty years we are going to see African companies going global. But we need the ecosystem.”
The Ghana Cyber City was proposed in 2005 by the Ghana Cyber Group, a Business Process Outsourcing company founded by Yaw Owusu. Costing US$40 million, the city is designed to facilitate incubation of innovative firms, manage outsourcing ventures and create 5,000 jobs in five years. It will also contain a data centre.
The city will be designated a free zone so as to offer tax incentives.
Osiakwan called for Africans to take advantage of the opportunities springing up around them and take their ideas across the world.
“The next frontier is reinventing Africa,” he said. “We need to move from consuming technology to creating technology. We need to see Africa’s Google, we need to see Africa’s Facebook.”
“The next generation needs to be able to live in a better Africa.”
Osiakwan is a leading figure in African technology, having played a role in the founding of the African ISP Association, Ghana ISP Association and FOSSFA. He has supported the establishment of companies such as Novica.com (West Africa), Internet Research, BusyInternet, InHand, PenPlusBytes, and consults for the World Bank, Soros Foundation, UNDP, USAID and various African governments.
Other attendees at the conference, however, sounded a warning that there was still much to be done before Africa could really consider itself to be a tech powerhouse.
Bitange Ndemo, Kenya’s permanent secretary at the Ministry of Information and Communications, said that governments needed to keep up with the fast-paced changes.
“Things are changing so fast that we need to find a new way of policymaking,” he said.
He also asked Kenyans to be more ambitious when it came to technology, saying that rather than seeing themselves outperforming the likes of neighbours Somalia they should be looking at the likes of Singapore and striving to reach that level of development.


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SSP Group appoints Kari Daniels as CEO, UK & Ireland
SSP Group has announced that Kari Daniels has been appointed as CEO, UK & Ireland. She succeeds Richard Lewis, who will step down from the role and depart the business at the end of the month following an orderly transition period.
Daniels brings a wealth of relevant food retail experience including more than 20 years at Tesco where she most recently spent four years as the CEO of Tesco Ireland, responsible for over 150 stores and more than 13,000 colleagues. Prior to this, she was UK Commercial Director at Tesco. Kari also currently serves as a Non-Executive Director at Topps Tiles plc.
Daniels has a track record of driving performance across commercial and marketing in both retail and branded FMCG businesses and will work with the UK leadership team to continue to accelerate growth and profit, build market-leading food and beverage propositions, collaborate with our clients and brand partners and shape the sustainability agenda.
Richard Lewis will continue in a consultative capacity until the end of April while Kari completes her induction.
“We are delighted to welcome Kari to SSP. Her extensive knowledge and experience of both retail and food industries make her an ideal successor to Richard in the role, and I’m confident she will accelerate growth in our UK business by putting a clear focus on developing our customer offer and innovating our brands and concepts to cater for the changed world we now operate in. Kari joins at an exciting time for the Group as we continue to make strong progress in our recovery and deliver our growth strategy to further strengthen our market-leading positions in food travel markets globally.
“I would like to thank Richard for his invaluable contribution to the Group during his time in the role. Richard successfully led SSP UK, Ireland and the Netherlands through the COVID-19 pandemic, managing the needs of the business, our clients and customers through extremely challenging and volatile times and steering the business through the recovery. The Board and I wish him the best in his future endeavours,” said Patrick Coveney CEO at SSP Group in a January 11 release.


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Drugmaker ‘Pay for Delay’ Accords Questioned by Top CourtGreg Stohr
U.S. Supreme Court justices suggested they will open drugmakers to suits over so-called pay-for-delay agreements, hinting at a ruling that would rewrite the rules governing the release of generic medicines.
Hearing arguments today in Washington, the justices voiced skepticism about the accords, which the Federal Trade Commission says cost buyers as much as $3.5 billion a year. The antitrust agency says brand-name drug companies are paying generic rivals to forestall low-priced versions of popular treatments.
The accords benefit the companies “to the detriment of consumers,” Justice Elena Kagan said.
The FTC says 40 more pay-for-delay accords were struck in fiscal 2012 alone. Bayer AG, Merck & Co. and Bristol-Myers Squibb Co. units already have faced lawsuits. Companies say the accords are legitimate patent settlements.
Several justices suggested they weren’t comfortable with the FTC’s proposed test to determine whether the accords are anticompetitive. The antitrust agency says courts should start with the presumption that a payment from a brand-name drugmaker to a generic rival is illegal. Justice Stephen Breyer called that test “rigid.”
Justice Anthony Kennedy, often the court’s swing vote, suggested that brand-name drugmakers at least shouldn’t be allowed to pay generic companies more than the generic companies could expect to get by winning patent litigation.
The disputed settlements are a product of the economics of the pharmaceutical industry, where companies can reap billions of dollars from blockbuster drugs -- and then see those sales plummet the moment a generic alternative appears. The FTC says generic drugs sell for an average of 15 percent of the original price, with the brand-name company losing 90 percent of its market share by unit sales. Generics have saved purchasers $1.1 trillion in the last decade, the industry says.
Pharmaceutical patent settlements typically arise when a generic-drug maker has either secured, or is poised to receive, Food and Drug Administration approval. At that stage, only the brand-name company’s patents stand in the way of generic competition.
The FTC and its allies say they have no quarrel with settlements that merely set the date for generic entry. They say that type of agreement simply reflects the companies’ assessments of the chances that a court would invalidate the brand-name company’s patent.
An Extra Year
A payment is different, they say. If a brand-name drugmaker with $100 million in annual sales can pay a generic rival $20 million to wait an extra year, both companies come out ahead -- at the expense of purchasers, the FTC argues.
A 2010 FTC study found that the accords cost purchasers $3.5 billion a year, a figure the drug industry contests.
The high court case centers on Androgel, a treatment for low testosterone in men that is made by Solvay Pharmaceuticals Inc. The FTC is suing Solvay and three generic-drug companies, including Actavis Inc.
The FTC says the price for Androgel was poised to fall at least 75 percent in 2007 after the Food and Drug Administration cleared the way for competition. Faced with the prospect of losing $125 million in annual profits, Solvay instead paid the generic-drug makers as much as $42 million a year to delay their competing versions until 2015, the FTC says. At the time, Actavis was known as Watson Pharmaceuticals.
The companies say Solvay, which is now part of AbbVie Inc., had a patent that, if backed by the courts, would have protected the drug an additional five years -- until 2020.
The companies say the payments were compensation for services to be provided by the generic-drug makers, including Watson’s marketing of Androgel to urologists.
Three of the four federal appeals courts to rule on the issue have said the settlements, also known as reverse payments, are generally permissible. That includes the Atlanta-based 11th U.S. Circuit Court of Appeals, which threw out the FTC’s Androgel suit.
The court said that, unless the patent litigation is a sham, reverse payment agreements are immune from antitrust attack so long as they stay “within the scope of the exclusionary power of the patent.” Because the Androgel accord shortened the period of time Solvay potentially could exclude generic competition, it passed antitrust muster, the appeals court said.
That reasoning drew little support today at the Supreme Court. Among the eight justices taking part in the case, only Antonin Scalia suggested he agreed with the lower court. Justice Samuel Alito isn’t taking part in the case.
The case, which the court will resolve by June, is Federal Trade Commission v. Watson Pharmaceuticals, 12-416.
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I read this piece and was surprised that Amazon is doing so well.
The economic slump has not slowed down Amazon’s growth as the e-tailer reported the total revenue jumped 41% in the second quarter ended June 30, to $4.06 billion. Total media group sales rose 31%, to $2.41 billion, while North America media revenue had comparatively modest gains of 24%, to $1.15 billion. Net income, which includes a $53 million gain from the sale of Amazon’s European DVD rental business, rose 102%, to $158 million.
Jeff Bezos, Amazon chairman, said the increase in fuel price is an advantage for the company since more consumers seem to prefer to shop at home rather than use gas to travel to a store. CFO Tom Szkutak said he didn't expect rising transportation costs to significantly impact the e-tailer's margins, and Bezos added that the company has no intention of changing its free shipping offers because of higher gas prices.
For the first six months of 2008, North American media sales were up 23%, to $2.35 billion. Total sales rose 39%, to $8.2 billion and earnings rose to $301 million from $189 million. The company still expects total sales for the full year to rise between 30% and 35%, reaching about $20 billion.
The number of titles available for the Kindle are now up to 140,000 compared to 90,000 at launch, and the company did not break out any other Kindle figures except to say sales of e-books represent a low double digit percentage of the 140,000 titles available in both e-books and print formats.
Jim Milliot PW
07/28/08 Mon 7:25am


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ECi Software Appoints COO
ECi Software Solutions (ECi) recently announced that Trevor Gruenewald has been appointed chief operating officer (COO).
Gruenewald, who joined the ECi team in January 2009 as senior vice president and general manager, will continue to expand his responsibilities across all business units and several corporate functional areas.
SMA Names Board Officers
Strategic Market Alliance (SMA) recently announced that John Rosenau, Stanley Mayfield and Gene Melzer have been appointed officers on the SMA board of directors.
Rosenau, president and chief executive officer (CEO) of Philip Rosenau Company, has been named chairman of the board; Mayfield, president and owner of Mayfield Paper Company, has been named vice chairman; and Melzer, president and chief executive officer (CEO) of NASSCO Inc., has been named secretary/treasurer.
CFR Hires Brand Manager
CFR Corporation recently announced the hiring of Doug Berjer as the company''s new brand manager.
According to Michael Schaffer, a senior executive with the commercial floor care division of Tacony Corporation, owners of CFR, Doug has an extensive background of industry experience in the JanSan sector.
"With Doug''s background and experience, we believe he will add tremendous value to our ''new generation'' of carpet cleaning systems," said Schaffer.
APEC products receive EcoLogo Certificartion
Amano Pioneer Eclipse (APEC) recently announced that nine of its EnviroStar Green® chemicals have been certified by TerraChoice Environmental Marketing''s EcoLogo program.
The EnviroStar Green product lines consist of 25 different Earth-friendly chemicals that produce excellent results in all types of commercial and institutional applications.
Steamatic Receives Longevity Award
Steamatic of Fort Wayne has received a 40-year Longevity Award and four Outstanding Contractor Awards from franchisor Steamatic Inc.
The awards were given at Steamtic''s Biannual International Convention in Colorado Springs July 15-17.
Tork Brand Launches New Website
Tork, a brand of SCA Tissue North America, has introduced a revitalized company website, www.Torkusa.com, complete with a new, user-friendly design and improved functions.
The new website enables visitors to personalize their settings to find ideal product solutions based on their specific needs.
UGL Unicco Awards Scholarships
UGL Unicco continued its scholarship program for dependents of full-time UGL Unicco employees by awarding 15 scholarships to graduating high school seniors and college students.
Selected from among 61 applicants, the students received the scholarships in recognition of their strong academic skills, leadership qualities, community involvement, extracurricular activities and financial need.
IEHA Releases HPCP Prospectus
The International Executive Housekeepers Association (IEHA) recently announced that the prospectus for its High Performance Cleaning Product (HPCP) testing program in conjunction with the University of Massachusetts at Lowell has been finalized and is available for download.
The HPCP program tests and verifies the performance of green products and helps promote hard surface cleaning products with green attributes.
The HPCP prospectus can be viewed at www.ieha.org/documents/HPCP-Prospectus.pdf.
Spartan Receives Safety Award
Spartan Chemical Company was recently presented with the prestigious Leadership in Safety Award from insurance provider CNA Financial Corporation.
Spartan received this award based on their extremely low claim record, their proactive approach of consulting CNA''s risk department before a building plant addition and installing new tanks and their progressive response to CNA''s risk reduction recommendations.
Spartan was nominated by their CNA Risk Control Consultant Joan Wooley.
Servicon Receives Green Cleaning Award
The Ashkin Group LLC recently presented Servicon Systems and its management team with the Green Cleaning Champion Award.
The award recognizes the best of the best in the cleaning industry for their commitment to sustainability and green cleaning.
News and People items in "Around the Industry" initially appeared in CM e-News Daily™, a daily e-mail news service for the cleaning and maintenance industry.
To have your News and/or People item considered for CM e-News Daily and "Around the Industry," please e-mail your release to Managing Editor Aaron Baunee at firstname.lastname@example.org. To sign up for the free CM e-News Daily e-mail, visit www.cm-enews.com.


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There’s no business like spa business — at least for a couple of Orlando entrepreneurs who have capitalized on the fact that the late bombshell Marilyn Monroe’s star power hasn’t faded yet.
Memphis City Council will hear details of planned enhancements to Graceland by new owners of Elvis Presley Enterprises
A researcher identified a relatively simple way to de-anonymize data detailing driver movements throughout the city.
What's to become of the former trendy retailer's three local shops.
Women’s clothing retailer Juicy Couture has closed its two stores in the Sacramento region, part of a national series of store closures.
The 450-room Guest House at Graceland will closely resemble the Graceland mansion, according to early architectural drawings released by Elvis Presley Enterprises.
Whitehaven residents get first glimpses of proposed Elvis-themed hotel.
The end is likely near for the Sacramento region’s two Juicy Couture stores.
A brand new "Guesthouse at Graceland” could be coming to the neighborhood around Memphis' most iconic residence.
Authentic Brands Group and Card.com have created a partnership to allow Elvis fans to use his image to buy Elvis merchandise, or any merchandise, for ...
The late 2013 acquisition of Elvis Presley Enterprises and the rights to management of Graceland by Authentic Brands Group and National Entertainment ...
More than 30 years after Elvis Presley’s home was opened to fans and tourists, the new owners of Elvis Presley Enterprises are determined to raise the ...
As we count down the days until the new year, Memphis Business Journal is taking a look back at our most-read web stories for 2013.
After investing around $130 million to acquire Elvis Presley Enterprises and the intellectual property that goes with it, the new ownership group may ...


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The iOS 13 beta is already on the most adventurous devices and leaves clues of what to expect from the next iPhone. Raphael Mouton has left on his Twitter an image of the recovery screen of his iPhone showing us a USB-C cable.
The image we can see indicates that we should connect iPhone to iTunes. But most interesting is the presence of a USB-C cable instead of the usual Lightning.
Is this where Apple gives us a USB-C jack on the iPhone?
Apple has long been rumored to abandon its Lightning slot in favor of USB-C. This type of rumor has been constant in recent years, but so far has never materialized.
Now that iOS 13 itself mentions this entry, the expectation is even higher for the presence of the USB-C slot in the new iPhone XI. If this change comes to fruition, greater consistency is formed across Apple's entire portfolio.
USB-C input is already part of other Apple products. Just missing the iPhone!
One of the first Apple devices to migrate to USB-C was the Macbook Pro. Then, too, the iPad Pro had similar treatment. This scenario creates inconsistency in the company's portfolio as, for example, you cannot directly connect your iPhone to your Macbook Pro.
Therefore, it makes perfect sense that iPhone also uses a USB-C port. In addition to higher loading speeds, this input enables data transfer between devices.
What will be the future of Lightning?
Since Apple makes a lot of money on accessories, it seems unlikely that the Lightning entry will be completely abandoned. That should not be Apple's strategy, at least not immediately. If so, it should be a gradual transition.
You may also like Did you miss this?


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State police have arrested three people in Ontario County following an incident on Friday, September 23.
According to a news release, 22-year-old Maraje M. Miller, 26-year-old Shakela R. Smith, and 28-year-old Oshane Williams- all of Rochester- were charged with second-degree robbery.
The three were all taken into custody on September 25 for stealing around $1,000 in merchandise from a store in Victor.
During that incident, they threatened employees of the store with a taser.
They were arraigned and will answer the charges at a later date.
FingerLakes1.com is the region’s leading all-digital news publication. The company was founded in 1998 and has been keeping residents informed for more than two decades. Have a lead? Send it to [email protected].


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by Tom Walsh
2014 marks the 50th anniversary of the Swift Group and the company is celebrating by offering customers zero per cent finance on selected models at the Caravan and Camping Show.
The 0% deal is backed by Black Horse finance and means no extra cost for caravanners who want to order a brand new caravan without paying everything up front. Orders can be made on the Swift stand at the show or in your local Swift dealership.
Swift has already announced that it will be launching a new Loire holiday home range for the coming year with details expected to be released at the show.
Show visitors will also get to see the unveiling of Swift’s Smart HT project, which was teasered last month in a cryptic video.


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Telecoms and Media Commissioner Viviane Reding has said the current economic conditions require the digital switchover process to be accelerated. Delivering The Ludwig Erhard Lecture 2009 at the Lisbon Council in Brussels, Reding said she would tomorrow put forward a package of draft measures to accelerate switchover that will then be put out to consultation. The freed spectrum could be used to provide new communications and content services.
“The Commission estimates that the incremental value of this spectrum for wireless broadband across the EU is between €150 and €200 billion. Appropriate European coordination of Member States’ work on the digital dividend would increase the potential economic impact of the digital dividend by an additional € 50 billion between now and 2015,” said Reding, adding that every corner of Europe would be able to benefit without it costing a single cent.” I call therefore on all EU governments: Don’t wait until 2012, the EU-wide deadline for the final digital switch-off, to bring these benefits to you businesses and citizens. Act swiftly now.”
In her speech, Reding likened the facilitation of intellectual property rights for online services across the EU to the introduction of commercial satellite TV in the 1980s. Reding proposed a less fragmented regulatory framework that would enable consumers to access content that has been uploaded in another member state. Far too often, she said, online service providers were spending money on rights clearance instead of the content.


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We are fast approaching the silly season of gaming with Q4 of 2015 just around the corner. A plethora of games are set to launch in this time, with most having their dates confirmed and pencilled into pre-order calendars everywhere. Almost all but StarCraft II: Legacy of the Void, which still has a mysterious Q4 banner lingering around it. One that might have just cleared up.
According to South African retailer Raru, the highly anticipated conclusion to the StarCraft II trilogy will launch on November 27th. If you quickly check your calendars, that’s a Friday – which doesn’t exactly line-up with traditional Tuesday launch dates in the USA. It does, however, fit with common South African and European release day practices, lending the listing a lot of credibility.
Raru is also incredibly notorious for leaking sensitive information through pre-orders – with the online retailer first leaking the existence of Greninja, Jigglypuff and Splatoon Amiibo, all three of which were accurate. They also recently leaked a suspected release date for the upcoming MewTwo Amiibo, although we’re still waiting to see if that pans out.
In addition to that, many games up for pre-order on the website that don’t yet have confirmed release dates are automatically given December 31st placeholders. Something which Legacy of the Void has clearly avoided.
It’s normal for retailers to have access to information like this well before it’s public knowledge, and we live in a time where accidental pre-order postings come at a dime a dozen. Blizzard made it very clear at Gamescom that Legacy of the Void would be out by the end of the year – so it’s not too far-fetched to suspect we now have our date.
Last Updated: August 12, 2015


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Apple claims that Spotify complaints preferential treatment will enforce
Apple has responded to the complaint about abuse of Spotify. The company from Cupertino claims that the accusations are an attempt by Spotify to enforce a uitzondeingspositie. The music streaming service would not be required to use Apple’s payment system.
According BuzzFeed Apple its position on Spotify clearly made by sending a letter, but this is also not disclosed. In the letter, the company responds to an earlier complaint which has been sent to the address of Apple. According Spotify makes Apple a clear abuse of its dominant position by requiring applications for in-app payments using the iTunes payment system. Spotify support had previously been removed from its app after Apple refused service from the App Store.
By complaining about the policy Spotify tries to enforce preferential treatment, as is Apple’s opinion. “We find it problematic that you ask for an exception to the rules that apply to all developers involved, and disseminate public body rumors and half-truths about our services”, as Apple said in the letter to Spotify. The company thereby also denies that violates the antitrust laws.
Spotify and Apple are already longer at loggerheads. Because Apple charges for in-appbetalingen to 30 percent of the purchase price as commission, Spotify must ask a higher price for subscriptions that are concluded within the iOS app. For subscriptions that are closed via the Spotify website is subject to the normal price. Apple would the committee gain an unfair advantage with its own music streaming service, so the complaint. There was the European Commission, however, no evidence of last year.Viewing:-148
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Worksop dad sold cannabis to his friends
A DRUG dealing dad has admitted he bought cannabis and sold it to his friends.
John Anthony Spolander, 27, of Victoria Road, Worksop, appeared at Worksop Magistrates’ Court last Thursday.
He admitted possessing cannabis with intent to supply, and a further charge of supplying the class B drug.
The court heard how on 3rd November 2012 at 1.30pm, officers spotted a man coming out of Spolander’s property, putting a small bag of cannabis into his pocket. A search of the house revealed a further quantity of cannabis bush.
David Verity, defending, said the supply was ‘small scale’ and had not been going for long.
Magistrates sent the case to Nottingham Crown Court.


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Interesting piece by MJ Biz
We would, though, ask the open question..what about all the undocumented workers off the books though?
There’s plenty of examples of these issues especially on the west coast in grow facilities.
There’s also plenty of companies who aren’t happy about workers unionizing.
The industry shouldn’t pat itself on the back too much.
MJ Biz write
Half the states across the country have increased – or will raise – the minimum wage paid to hourly workers this year, but many cannabis businesses, including retailers, are unlikely to feel much of an impact.
That’s because most say they already pay their employees above the minimum wage set by the states in which they operate.
Moreover, that pay is in addition to attractive benefit packages.
Mainstream businesses are bracing for minimum-wage hike, but many cannabis firms already pay more


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We survived Hurricane Irma, although the storm has certainly left a fair share of challenges and inconveniences for the residents of Florida. In Miami, we were bracing for the strongest and largest storm to ever hit the city but were spared with minimal tree damages and the challenging situation of not having power or gasoline to go about our business comfortably.
Those of you that follow our weekly update probably realized we didn’t sent it out last week. We apologize, but we were busy preparing for the storm. Now that we are ALMOST up and running, we are resuming our weekly updates and have a list of both premium and free articles in store.
Since we didn’t send an update last week, this week’s edition will have quite a bit of information since it will include what we thought were some of the most important points from the week before – in addition to this week’s full coverage. Thanks for reading and apologies for missing last week.
As of 3PM on Friday September 15, 2017, the MSCI REIT Index (RMZ) was up just 0.1% on the week, trailing the SPDR S&P 500 ETF (SPY), with a price return of 1.3%.
Regional Malls are up 2.8% for the week, led by CBL & Associates (CBL) and Pennsylvania Real Estate (PEI) with 5% and 4.4% price increases, respectively. The market must have looked favorably on CBL’s payoff of two mortgages totaling $200M.
Lodging/Resorts were also up strongly, averaging a 2.6% increase with RLJ Lodging (RLJ) and Ashford Hospitality Prime (AHP) leading the way. RLJ has all of its Texas hotels in operation and of those in Florida, 8 out of 20 were closed due to evacuations but sustained no material damage.
To the downside, Manufactured Homes were hardest hit, both physically and by the markets. The sub-sector was down 1.8% after Hurricane Irma pummeled the Florida Keys. As of today, the companies have not reported the extent of damage to properties located in areas that remain inaccessible.
Data centers were also punished this week after a speech that called for the end of the data center model. (see news section below) Lastly, Self-Storage REITs, which declined 1.7% on the week, actually recovered strongly after damages from Irma were confirmed to be less than anticipated. Post-Irma, we believe Self-Storage REITs may benefit from homeowners looking to store belongings while their homes are being repaired.
Note: 1-Week Price Returns are based on the average returns all REITs within each sector. Not market-weighted.
Below are the results for a select group of REIT ETFs. We have added fund flows for 1, 3, and 6 month periods.
Public Storage (PSA) reopened its Houston facilities and announced the opening of its 116 th location in the city. With so much damage to homes both in Houston and Florida, we think self-storage could get an additional boost. PSA also announced a $1B debt offering in two tranches.Life Storage (LSI) still has 8 properties closed due mainly to power outages.Gladstone Land (LAND) is getting into the wine business with a $5.4M purchase of White Hawk vineyard, a 361 acre plot of land in Santa Barbara. It also acquired a 746-acre form located in Walla Walla. It also announced a share raise, which caused the stock to decline by 4.4% after-hours on the day of the announcement. Turns out the share raise was for 1M shares at $12.25 each. Net proceeds were $13.3M. When one COO is not enough, hire two! Crown Castle International (CCI) rearranged its leadership team to facilitate the integration with Lightower. James Young will lead the Fiber unit as it works to expand its fiber solutions, while Robert Ackerman will lead the Towers and Small Cells division.Urstadt Biddle Properties (UBA) beats revenue estimates by $2.7M, which is 12.7% Y/Y growth.Equinix (EQIX) is purchasing Itconic and CloudMas in Spain and Portugal.Investors Real Estate Trust (IRET) beats on revenue by $1.98M, a 6.3% Y/Y increase.Jernigan Capital (JCAP) had several projects delayed due to Hurricanes Harvey and Irma. Most projects suffered minimal damage but work was delayed due to power outages. Expect bad news from manufactured housing REITs Sun Communities (SUI) and Equity Lifestyle Properties (ELS). While both companies say most of their properties sustained minimal damage, neither had been able to access properties in the Florida Keys. As of Friday, much of the lower keys remained inaccessible. Data center REITs declined on the back of a speech of Social Capital’s Chamath Palihapitiya, who says that eventually you will be able to drive a data center in an RV and park it beside a data center due to the shrinking of chips. Digital Realty (DLR) and others in the sector were down over 3%.Ashford Prime (AHP) said that its Ritz-Carlton resort sustained some damage, which is currently being assessed along with insurers. The resort is currently taking reservations for January and has about 80% of guest rooms open for those helping the recovery effort. Good luck guys!!iStar (STAR) was upgraded by Fitch to BB- after the company launched an $800M offering and a separate $250M private offering – to pay down notes due in November, February 2018, and two Preferred stock issues.Host Hotels (HST), which closed 7 of its 10 Florida properties as Hurricane Irma approached, will have all of them open by Monday, September 18 th, except for one in Miami and one in Naples. Those should be open by the following week.
Sabra Health (SBRA) upgraded to market perform by JMP securities and Mizuho with a price target of $23 and $24, respectively.Mid-America Apartment (MAA) upgraded to buy from neutral at BTIGAvalon Bay (AVB) price target raised ro $215 from $200 at BTIGCamden Property Trust (CPT) price target raised to $106 from $90 at BTIG
Avalon Bay (AVB) gets downgraded by Goldman Sachs (GS) to Neutral from Buy. Equity Lifestyle (ELS) downgraded to neutral at Baird due to valuation Regency Centers (REG), Ramco-Gershenson Properties (RPT) and Retail Opportunity Investments (ROIC) were downgraded to Hold due to risks posed by headline risk related to grocery anchored tenants.
Dividends this Week and Next
REITonomics This Week
We have tons of data this week after skipping our last edition due to Hurricane Irma. The following are key economic data points released this week and last week.
ISM Non-Manufacturing PMI
The ISM Non-Manufacturing Index was up slightly from last month to 55.3, which is good news considering any result above 50 indicates expansion. As the Fed weighs the economic data to map out its interest rate increases, this result indicates the economy is still doing well.
Initial Jobless Claims
If things weren’t confusing enough regarding the direction of the economy, the Initial Claims this week did nothing to help the cause. Initial claims spiked to 298,000, way above the consensus forecast of 241,000. Whether this is a harbinger of an exhausted 8-year labor market run, we don’t know, but it certainly makes for some cloudy economic forecasts, including potential Fed rate hikes.
One way to keep the pace of economic growth without driving inflation is to increase productivity. We have yet to return to the glory days of the internet boom or the initial quarters of 8% productivity levels reached at the beginning of the current recovery. However, the recent 1.5% productivity improvement is good news for continued economic growth, even if still at modest levels. In our opinion, the longer economic data points avoid extreme levels (to either the upside or downside), this bull market could continue.
Unit Labor Costs
If there is any indicator that gives us comfort that the Fed will continue to delay or cautiously raise rates, its Unit Labor Costs. So long as businesses aren’t paying higher and higher wages, inflation should remain tame. That’s not to say that we don’t want some kind of wage growth. We haven’t witnessed wage growth in quite some time due perhaps to robotics, increased productivity, or a combination of factors. In many industries, wages have actually declined – which is not fun if your mortgage doesn’t decline also. In any case Unit Labor Costs rose slightly from the prior quarter – just 0.2% but much slower than the previous quarters change of 4.8%
NFIB Small Business Optimism
Small businesses continue to remain optimistic, driving the NFIB Small Business Optimism Index to 105.3, slightly below its 2017 high of 105.9 reached in January. More importantly, the outlook for expansion – the percentage of respondents that feel that the next three months is a good time to expand – reached 27 – the highest level this year.
Inflation data was quite tame leading us to believe that the Fed will continue to tread lightly on rate increases. Core CPI was slightly above expectations but at 1.7% Y/Y, we don’t see inflation as a near-term risk.
Continuing claims remained below the 2M mark and points to resiliency in the labor market.
Initial Jobless Claims
On the other hand, initial claims remained elevated despite the decline from the prior month. The 4-week average jumped to 263,250 after two straight weeks of claims above 250K. Initial claims had only breached the 250K mark 8 times this year. Something to watch closely in coming weeks.
Core Retail Sales
Core retail sales ex-auto came in at a disappointing 0.2% - below the consensus forecast of 0.5%. Looking at the details reveals some bifurcation by category. Gasoline station sales were up 2.5% and miscellaneous store retailers posted an increase of 1.4%. While not a great number, it doesn’t necessarily signal the end of consumer spending nor or brick and mortar retail. NEWSFLASH – non store retailers were down 1.1%.
Total retail sales were actually down 0.2% driven by a decline of 1.6% in the auto sector.
Michigan Consumer Sentiment
All seems to be well with the consumer, which feeds into the previously mentioned retail sales figures. With continued stability in the labor force and minimal imminent exogenous risks, we could, surprisingly, see this recovery go into year number 9.
We have changed the format of our Dividend Yield/Payout Ratio chart to better reflect attractive dividend payers with dividend growth potential. Based on the new format, sectors located to the top/left are attractive based on current dividend yields and low payout ratios that could lead to potential dividend boosts.
Comparing price multiples to potential returns based on analyst estimates, Regional Malls also look attractive with a P/FFO multiple of 11.2 - and a potential return of 14.6% (down from 20.6%). The sector with the highest potential return based on analyst estimates continues to be Infrastructure REITs with a target return of 24.9%. Their P/FFO multiple of 15.7x is much higher than the Regional Malls but still reasonable in our view.
Industrial REITs, with YTD returns of 21%, now seem to be fairly valued and aren’t expected to have much upside according to the consensus estimates.
Manufactured Homes, on the other hand, have returned 26.7% to shareholders over the past year even after recent declines and the valuations seem to have reached extreme levels – ditto for single family homes but fundamentals are still there for more upside.
Note: some adjustments were made to normalize the average numbers such as removing data points where P/FFO was negative due to negative FFO/share or where a low FFO would lead to an abnormally high P/FFO in a small population size.
As we continue to refine our offering, we will provide AFFO when it is viewed as a better indication of a company’s current cash flow.
Market Cap Breakdown of REIT Sector
Due to Hurricane Irma, we will be extending our annual discount pricing for the Heard on the REITs premium service until mid-October to allow us to catch up on the reports and publications we had planned on producing before the end of September. That deadline will be tough to meet after almost 10 days of inactivity due to the Hurricane.
So until mid-October (Deadline TBD), we are offering an annual price of $500. That’s $100 off the regular annual price and a $400 savings to the monthly subscription price. This is limited time offer, so consider subscribing today.
The following samples were published for free, but these highly analytical reports will only be available in the Premium service from now on.
Disclosure: I am/we are long BXP. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.
Additional disclosure: Long